Drill Program Commences at Kagoot Brook Co-Mn Base Metals Project, New Brunswick
VANCOUVER, BC / ACCESSWIRE / December 18, 2018 / GREAT ATLANTIC RESOURCES CORP. (TSX-V: GR) (the "Company" or "Great Atlantic") is pleased to announce its optionee Explorex Resources Inc. has mobilized crews to initiate the maiden drill program at the cobalt-manganese base metals Kagoot Brook project in New Brunswick.
Kagoot Brook Co-Mn base metals project
Historical work at Kagoot Brook has delineated two drainages, two kilometres apart, that exhibit a series of remarkably anomalous cobalt values up to 6,000 parts per million (1) in the silts.
Recent follow-up stream silt sampling programs performed by Explorex revealed:
- A significant concentration of and a strong relationship of cobalt with manganese and associated base metals (nickel, copper, lead and zinc);
- The relative percentage of the cobalt to manganese indicating a favourable high cobalt tenor (that is, grade component);
- A distinct upstream cut-off of the cobalt mineralization.
The project area is blanketed by a thin till cover with little or no outcrop and the in-stream silt-grade cut-offs are interpreted to closely reflect the southern contact of the underlying mineralized horizon. The grade cut-offs align well with stratigraphy adding confidence to the greater-than-two-kilometre inferred potential length of mineralization along the geological trend.
Kagoot Brook drill program
Explorex is taking advantage of a window of opportunity presented by a local drill company to complete two holes prior to the Christmas break. This initial two-hole, 500-metre drill program is limited in scope and designed to drill one partial transect across the target stratigraphy within the four-by-one-kilometre target area.
Due to the near-Christmas timing of the drill program, it is anticipated that the core will be processed when the technical crew returns to the project in the New Year, with results reported thereafter.
No drilling has ever been conducted and no source of the historic geochemical anomalies is known on the property.
(1) The stream silt samples reported in this release are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Silt samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the projects.
David Martin, PGeo, a qualified person as defined by National Instrument 43-101 and vice-president of exploration for Great Atlantic, is responsible for the technical information contained in this news release.
Option agreement
The Kagoot Brook property is 100 per cent owned by Great Atlantic Resources and is subject to an underlying agreement with Explorex Resources Inc. Explorex Resources is acquiring up to a 75-per-cent interest in the project (please see Great Atlantic Resources' news release dated Feb. 14, 2018).
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
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This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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SOURCE: Great Atlantic Resources Corp.